How you would trade this intraday chart and with explantion ?
- Thread starter Equity421
- Start date
==================Quote from Equity421:
20 EMA is used on 5 min Nifty chart
E21;
Chart link is not working;
but i sometimes use a 5 minute or daily chart for entry[not closed out @ end of day]
http://cdn3.traderslaboratory.com/f...939032-re-trading-off-daily-charts-image5.png
Given your parameters and with a gun to my head and put as simply as I can:
1. Go long in anticipation of the exit from the opening range.
2. Go short off the failure to make a higher high.
3. Go long again off the higher low.
4. Go short off the lower high.
5. Go long off the midpoint of the decline. Quit when price can't make a higher high.
Though there's no great trick to trading a hindsight chart. And I'd never trade something I knew nothing about. And I trade a 1m chart. And I don't use candles or indicators.
But it's all in fun, isn't it?
Give this one a try ..please..As before explanations too.
https://www.google.com/finance?q=NSE:NIFTY&ei=Hnq4UcigF8WpkgWIogE
https://www.google.com/finance?q=NSE:NIFTY&ei=Hnq4UcigF8WpkgWIogE